In part 2 of our interview, Dr George Theocharides talks AI, fintech, and the FTX saga.
The SEC's "aggressive stance" towards Binance and Coinbase is an attempt to create "a structure."
Current CySEC Chairman George Theocharides at his office in Nicosia
In the first part of the exclusive interview with Dr George Theocharides, the Chairman of CySEC, and Finance Magnates discussed various aspects of the financial industry and CySEC's role in protecting investors.
Dr Theocharides emphasized CySEC's mission to safeguard investors in Cyprus and abroad. He highlighted the growth and scrutiny of the investment firm sector, noting that while some firms join the industry, others exit due to challenges in meeting regulatory requirements. Consolidation in the industry is seen as a positive development, allowing larger players with stronger compliance cultures to thrive.
Regarding compliance enforcement, the regulator highlighted the transformation in CySEC's policies and actions over the past decade. CySEC conducts on-site visits and investigations to ensure adherence to regulations. The acquisition of a specialized system enables CySEC to monitor firms' online marketing activities and detect potential violations.
Looking ahead, Dr Theocharides predicted increased consolidation in the industry due to enhanced regulatory requirements. Firms with a strong compliance culture are likely to survive, while others may transition to alternative industries.
In the second part of the interview, we focus on the adoption of Artificial Intelligence in the investment sector, the near future of Crypto under MiCA, and the development of the fintech sector in Cyprus.
Dr. George Theocharides at his CySEC office in Nicosia, last month
"Adopt, but be Careful"
The BBC documentary 'The Billion Dollar Scam', published in
April, followed a year-long investigation into the murky world of online
investment scams. According to the documentary, The Ukrainian investment company the Milton Group scammed
unwitting customers out of more than a billion dollars.
Following the
documentary, concerns were raised that national competent authorities were not able to tackle the fraud in real-time, and industry participants pointed out
a problem: the compliance teams need to examine an infinite amount of data, without sufficient ability to screen or detect
unusual or suspicious transactions due to the high volume of material
submitted. The regulators, for their part, are hesitant to use AI technologies
that can ease the situation.
We asked Dr Theocharides about his opinion, and he commented:
To be honest, I haven't watched the documentary, but we believe in technology and we spend a lot of
resources on it, human resources and technological tools, to help us in our supervisory role. AI brings opportunities and
choices to regulators, but at the same time we do need to exercise caution.
How careful?
As regulators, we need to understand the challenges of digitalization – to be vigilant against new and emerging risks, as well as harness new technology and innovation to protect investors.
It is imperative to use all available resources and technological solutions we have to ensure the compliance of regulated entities with increasing and data-heavy regulatory requirements and investors' protection processes.
On what scale should the Industry adopt AI?
It's too early to adopt on a large scale, we need to do it in steps. I chair the Risk Standing Committee of ESMA, which looks at the risks related to retail investors, but also the risks related to financial stability across Europe.
We’re looking at AI and the capabilities of AI. The challenge for every regulator across the globe is to stay proactive and to be ahead of financial market developments and technological expansion no matter how fast-paced it is. So yes, adopt the technologies, but be careful and do it in steps.
What are the disadvantages of technology in
finance?
You talked about scams. That's an effect, or an after-effect, of
these technologies. Regulators need to be very vigilant and alert about these
types of new technologies and new assets. They bring a lot of risks related to
the conduct of business, cybersecurity, scams, money laundering, and terrorist
financing.
The Aggressive Move of SEC
The adoption process of AI reminds Theocharides of the first steps of
Blockchain:
I was the first Chairman of the Board of Cyprus Blockchain
Technologies Ltd, and the idea was to look at how that technology could be
useful not only for the banking or the financial services industry but for all
other industries.
That was in 2016. Okay, the digital assets are using it, but
outside of that, it has not been adopted on a large scale. It has the potential
to revolutionize a lot of industries and take away intermediaries.
Blockchain brings us to Crypto. How do you
see the first steps of MiCA coming into force?
This is a landmark crypto authorisation law for Europe and represents a major step forward for the protection of investors in financial markets. It's important to note however that MiCA won't cover all crypto assets,
such as NFTs, which will remain outside its scope.
Additionally, the issuance
of stablecoins will fall under central bank regulation, while trading and
service providers will come under ESMA and the national competent authorities.
MiCA is a commendable first step, but further framework development is needed
to fully regulate this industry.
What's your opinion about the recent SEC
moves against Binance and Coinbase?
This industry has been operating for a number of years in an
unregulated fashion. We've seen on a global scale crypto conglomerates or big
firms getting into trouble, and in the past, those ones getting into trouble
were bailed out by FTX, and then FTX collapsed.
The SEC is now trying to be
proactive in terms of putting some structure into this industry and some form
of regulation. That's why we see that aggressive stance towards these big
players in this industry in the United States.
Speaking of FTX, FTX EU is a good example of
a regulator protecting investors. Could you provide some insight into the
behind-the-scenes process of that?
FTX had a regulated entity in Cyprus, having acquired a license in September 2022. This was a MiFID license similar to other firms for trading derivative products, but not for trading in crypto. As soon as we learned through Twitter on November 9th what had happened, we communicated with the local entity immediately.
Because the firm here had properly segregated client funds and a board and governance structure, we asked the representatives of FTX in Cyprus to suspend operations immediately, and they did that on the day the crisis unfolded. So, that's one lesson to learn – acting swiftly.
Then what happened?
Then FTX went into bankruptcy, Chapter 11, which included FTX EU. The administrators wanted to preserve the value of the company. We were not against that, we worked with them having in mind that client's funds had to be safeguarded and returned to their owners.
Obviously, when firms go into administration, it takes time, and especially in this case, the fact that this was a group dealing with crypto assets, it's much more complicated. It took more time for them to set up the whole system from scratch to start the process of returning client funds, which happily they are now doing.
The second very important lesson is that with proper regulation, the risks from crypto assets can probably be mitigated, not completely banished.
CySEC opened
a Fintech hub in 2018. How do you see this sector developing?
We see a lot of movement towards FinTech firms. We established the hub to guide FinTech, RegTech, and SubTech ideas within our regulatory environment. It serves as a dialogue platform with prospective and existing regulated entities.
Currently, with funding from the European Union's RRF, we're transforming the hub into a regulatory sandbox for controlled testing of new technologies.
In the first part of the exclusive interview with Dr George Theocharides, the Chairman of CySEC, and Finance Magnates discussed various aspects of the financial industry and CySEC's role in protecting investors.
Dr Theocharides emphasized CySEC's mission to safeguard investors in Cyprus and abroad. He highlighted the growth and scrutiny of the investment firm sector, noting that while some firms join the industry, others exit due to challenges in meeting regulatory requirements. Consolidation in the industry is seen as a positive development, allowing larger players with stronger compliance cultures to thrive.
Regarding compliance enforcement, the regulator highlighted the transformation in CySEC's policies and actions over the past decade. CySEC conducts on-site visits and investigations to ensure adherence to regulations. The acquisition of a specialized system enables CySEC to monitor firms' online marketing activities and detect potential violations.
Looking ahead, Dr Theocharides predicted increased consolidation in the industry due to enhanced regulatory requirements. Firms with a strong compliance culture are likely to survive, while others may transition to alternative industries.
In the second part of the interview, we focus on the adoption of Artificial Intelligence in the investment sector, the near future of Crypto under MiCA, and the development of the fintech sector in Cyprus.
Dr. George Theocharides at his CySEC office in Nicosia, last month
"Adopt, but be Careful"
The BBC documentary 'The Billion Dollar Scam', published in
April, followed a year-long investigation into the murky world of online
investment scams. According to the documentary, The Ukrainian investment company the Milton Group scammed
unwitting customers out of more than a billion dollars.
Following the
documentary, concerns were raised that national competent authorities were not able to tackle the fraud in real-time, and industry participants pointed out
a problem: the compliance teams need to examine an infinite amount of data, without sufficient ability to screen or detect
unusual or suspicious transactions due to the high volume of material
submitted. The regulators, for their part, are hesitant to use AI technologies
that can ease the situation.
We asked Dr Theocharides about his opinion, and he commented:
To be honest, I haven't watched the documentary, but we believe in technology and we spend a lot of
resources on it, human resources and technological tools, to help us in our supervisory role. AI brings opportunities and
choices to regulators, but at the same time we do need to exercise caution.
How careful?
As regulators, we need to understand the challenges of digitalization – to be vigilant against new and emerging risks, as well as harness new technology and innovation to protect investors.
It is imperative to use all available resources and technological solutions we have to ensure the compliance of regulated entities with increasing and data-heavy regulatory requirements and investors' protection processes.
On what scale should the Industry adopt AI?
It's too early to adopt on a large scale, we need to do it in steps. I chair the Risk Standing Committee of ESMA, which looks at the risks related to retail investors, but also the risks related to financial stability across Europe.
We’re looking at AI and the capabilities of AI. The challenge for every regulator across the globe is to stay proactive and to be ahead of financial market developments and technological expansion no matter how fast-paced it is. So yes, adopt the technologies, but be careful and do it in steps.
What are the disadvantages of technology in
finance?
You talked about scams. That's an effect, or an after-effect, of
these technologies. Regulators need to be very vigilant and alert about these
types of new technologies and new assets. They bring a lot of risks related to
the conduct of business, cybersecurity, scams, money laundering, and terrorist
financing.
The Aggressive Move of SEC
The adoption process of AI reminds Theocharides of the first steps of
Blockchain:
I was the first Chairman of the Board of Cyprus Blockchain
Technologies Ltd, and the idea was to look at how that technology could be
useful not only for the banking or the financial services industry but for all
other industries.
That was in 2016. Okay, the digital assets are using it, but
outside of that, it has not been adopted on a large scale. It has the potential
to revolutionize a lot of industries and take away intermediaries.
Blockchain brings us to Crypto. How do you
see the first steps of MiCA coming into force?
This is a landmark crypto authorisation law for Europe and represents a major step forward for the protection of investors in financial markets. It's important to note however that MiCA won't cover all crypto assets,
such as NFTs, which will remain outside its scope.
Additionally, the issuance
of stablecoins will fall under central bank regulation, while trading and
service providers will come under ESMA and the national competent authorities.
MiCA is a commendable first step, but further framework development is needed
to fully regulate this industry.
What's your opinion about the recent SEC
moves against Binance and Coinbase?
This industry has been operating for a number of years in an
unregulated fashion. We've seen on a global scale crypto conglomerates or big
firms getting into trouble, and in the past, those ones getting into trouble
were bailed out by FTX, and then FTX collapsed.
The SEC is now trying to be
proactive in terms of putting some structure into this industry and some form
of regulation. That's why we see that aggressive stance towards these big
players in this industry in the United States.
Speaking of FTX, FTX EU is a good example of
a regulator protecting investors. Could you provide some insight into the
behind-the-scenes process of that?
FTX had a regulated entity in Cyprus, having acquired a license in September 2022. This was a MiFID license similar to other firms for trading derivative products, but not for trading in crypto. As soon as we learned through Twitter on November 9th what had happened, we communicated with the local entity immediately.
Because the firm here had properly segregated client funds and a board and governance structure, we asked the representatives of FTX in Cyprus to suspend operations immediately, and they did that on the day the crisis unfolded. So, that's one lesson to learn – acting swiftly.
Then what happened?
Then FTX went into bankruptcy, Chapter 11, which included FTX EU. The administrators wanted to preserve the value of the company. We were not against that, we worked with them having in mind that client's funds had to be safeguarded and returned to their owners.
Obviously, when firms go into administration, it takes time, and especially in this case, the fact that this was a group dealing with crypto assets, it's much more complicated. It took more time for them to set up the whole system from scratch to start the process of returning client funds, which happily they are now doing.
The second very important lesson is that with proper regulation, the risks from crypto assets can probably be mitigated, not completely banished.
CySEC opened
a Fintech hub in 2018. How do you see this sector developing?
We see a lot of movement towards FinTech firms. We established the hub to guide FinTech, RegTech, and SubTech ideas within our regulatory environment. It serves as a dialogue platform with prospective and existing regulated entities.
Currently, with funding from the European Union's RRF, we're transforming the hub into a regulatory sandbox for controlled testing of new technologies.
Yam Yehoshua is Editor-in-Chief, leading coverage of the global online trading, fintech, and digital assets sectors. He sets editorial direction and oversees how major developments are reported and explained for industry professionals.
Under his leadership, the newsroom focuses on the structural trends affecting brokers, trading platforms, and market infrastructure, including regulation, licensing, consolidation, and the evolution of CFD and crypto business models. The editorial approach prioritises clarity, financial accuracy, and relevance for decision-makers.
Yam has a background in both print and digital journalism and works closely with executives, regulators, and operators across key jurisdictions. His work is focused on separating market narrative from financial reality and ensuring coverage reflects how the industry operates in practice, not just how it is marketed.
Education:
Journalism and Communication Studies (Diploma Program)
Headline College, Tel Aviv, Israel
FXBO Adds IDWise KYC And AML Tools To Broker CRM Stack
Featured Videos
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
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For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
Regulation Roundup: Setup, Compliance, and Hidden Costs of Entry
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As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
As Singapore's capital-intensive requirements leave only a few retail brokers active in the city-state, there are many opportunities to be made in and around.
This session gathers regulators, advisors, and operators who have set up across multiple APAC jurisdictions to break down figures, what's working, what's breaking, and what's next.
Attendees will walk away with:
Survey of capital thresholds and other requirements across regions in APAC
Nuanced understanding of Singapore's role in the retail trading space
Glimpse into parallel developments in digital assets and RWA
Rails for Growth: 'Payments as Infrastructure' for Financial Superapps
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For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
For fintechs who try to capture the retail investment crowd, payments can be a game-changer from user experience to back-office plumbing.
This session brings together builders from across the payment ecosystem to examine how new rails are altering the way capital moves in APAC and beyond.
Attendees will walk away with:
A clear view of how stablecoins, on-chain settlement, and tokenised money are being used in live institutional workflows today
Understanding of what MAS initiatives like Project Orchid and Project Bloom signal for the future of digital money in Singapore's capital markets
Insight into how mobile-first fund platforms and digital distribution channels are pulling payment infrastructure closer to the point of investment
Perspective on the compliance and custody challenges firms face when payments, trading, and settlement converge on the same rails
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
From Rewards to Retention: The 5 Loyalty Program Mistakes Brokers Need To Avoid (Case Study)
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Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Acquisition is getting more expensive. Most brokers already know that. The harder question is what happens after the client funds the account.
This session looks at how broker loyalty programmes are moving from “nice-to-have rewards” into a serious retention layer inside the client portal.
In this session, Desmond Leong, CEO of Returning.AI, will break down the practical mechanics behind high-performing broker loyalty programmes: what to reward, what not to reward, how onshore and offshore entities need different incentive structures, what belongs in the rewards store, and how brokers can recycle reward budgets back into trading value instead of letting them disappear as pure cost.
The talk will cover common mistakes brokers make when launching loyalty programmes, including copying retail-style rewards, ignoring jurisdictional constraints, over-relying on bonuses, failing to connect rewards to lifecycle stages, and measuring vanity engagement instead of retention, LTV, CAC payback, deposits, and active trading behaviour.
Attendees will leave with a clear do-and-don’t framework they can use to pressure-test their own loyalty strategy.
Why loyalty is no longer a “nice-to-have” marketing feature for brokers
The building blocks of any loyalty program and what they mean: points, tiers, missions, stores, leaderboards, boosters, and cashback-style mechanics
Understanding of how key regulators read loyalty incentives and where the compliance lines are
What should go in the rewards store, and what quietly destroys ROI
How trading credits, rebates, VIP perks, education, and service benefits can recycle value back into the brokerage
The 5 mistakes brokers should avoid when building or buying a loyalty programme
Real figures from a live deployment: what moved in daily activity, tier progression, and trader spend
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
Stablecoins from Experimentation to Implementation
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
With over $300 billion in stablecoins now in circulation and APAC regulators moving from frameworks to enforcement, the conversation has shifted.
Held in partnership with 8Circle, this session brings together the builders of new payment rails and the institutions putting them to work.
Attendees will walk away with:
A clear view of which stablecoin use cases have cleared proof of concept and are now operating at scale in APAC
Understanding of what the MAS Payment Services Act and Hong Kong's fiat stablecoin licensing regime mean for brokers and payment providers in practice
Insight into the infrastructure gaps firms most commonly underestimate before going live
Perspective on where the next wave of adoption is heading and what existing systems need to accommodate
